Aiming at Activating the MOU between NIC and the Japanese Center for Cooperation with Middle East Region
NIC Holds the First meeting of Deliberative

The first meeting of deliberative for the committee formed to follow up activating the Memorandum of Understanding between NIC and JCCME was held at the NIC premises.
NIC Vice Chairman started the meeting with an elaborated explanation for the most important issues, agreed upon in the MOU signed during the second Arab – Japanese Conference held in Tunisia last December, stressing the importance of cooperation with the Japanese Center in opening new contact channels with the Japanese companies willing to invest in Iraq and promoting available investment opportunities with checking the possibility of creating commercial and investment partnerships between Iraqi and Japanese’s companies.Mr. Ameen confirmed the NIC determination to provide Japanese companies with all facilities required to start their projects in Iraq in the various sectors. Mr. Luqman Al- Faily, Iraqi Ambassador to Japan in his turn gave a speech about the importance of the MOU signed between the two sides highly evaluating the amount of attention the memorandum had been given by the Japanese government and the Japanese private sector since they believe that signing such agreements will result in starting lots of investment partnerships between Iraqi and Japanese companies in all sectors. Mr. Luqman also referred to the Iraqi’s Embassy in Japan efforts to hold periodic workshops for Japanese companies willing to invest in Iraq reviewing available Iraqi investment opportunities.

Aiming at Promotion the Ongoing Investment process in Iraq NIC Participate in Sulaymaniyah Build expo NIC participated in Sulaymaniyah Build Expo for the period 19-22.Jan.2011 together with 131 other companies and governmental sides from Turkish, Iranian, ejyption and UAE origins covered constructional, commercial, Decoration fields. The head of the participating delegation, Mr. Ahmed Al- Zubaidy said that the commission had always been serious to participate in all exhibitions whether local or international aiming at promoting the investment process in Iraq and making known to all investors incentives, privileges and guaranties granted by Iraqi investment law No. 13 for the year 2006. DG of PR, Promotion and Media department added that the NIC booth had witnessed wide range of visitors from companies interested in investing in Iraq most important of which was (DEG group)specialized in cement production and energy field and ( Taxim Hotels) specialized in building 5 stars hotel.The head of the delegation said that opinions had been exchanged and lots of enquiries had been answered especially those regarding investment law and incentives and privileges granted by this law and investment environment.

Chairman of Baghdad Investment Commission, said that the commission has granted approximately 80 license investment in the capital during the year 2010, distributed to all sectors.
Shaker Al -Zamili said that Baghdad Investment Commission granted seventy-seven investment licenses during 2010, value amounted to three billion and a half million dollars, pointing out that the licenses were distributed to all sectors
Zamili said that a priority of Baghdad Investment Commission work is the housing sector, which has been granted 15 investment licenses for the establishment of 120 000 housing units distributed on large projects under the authority of the Council of Ministers.
He said there were small projects worth up to $ 250 million for the establishment of more than 23 thousand residential units by Baghdad Investment Commission, pointing out that three pieces of land were handed to investors, including Proton Company, Germany, for the establishment of two compounds in Alsabiat in the district of Abu Ghraib, after obtaining all approvals.

Chairman of Basra investment, said on Friday, that the volume of investment projects in the province in 2010 exceeded the previous years, pointing to the need to redraw the investment map of the city in the next stage.
“Investment was a distinct movement in Basra during the current year as it has witnessed the implementation of strategic projects in various sectors” Haidar Ali Fadhil, said.
He added that “Basra Investment Commission granted 12 investment licenses this year, the same number of projects that were licensed last year, 2009, but they differ in terms of the amount invested,” noting that “the volume of investments during this year was too high where they exceeded the cost of housing projects, which was granted an investment license of $ 500 million, while the cost of the projects in the industrial sector reached $ 245 million, as well as small businesses, pointing out that 12 investment license was granted last year too, but with much lower amounts. ”
Fadhil pointed that “Basra Investment Commission has been able during the last period to turn the investment map into real projects on the ground after attracting companies and investors to work in the province,” but he called at the same time to “redraw the map of investment in Basra during the next phase,” considering that a necessity.
Fadhil said the commission is about to begin a new phase of economic development in Basra during the next stage.”
Basra city, the provincial center, is located 590 km to the south of the capital, Baghdad

Mr. Ghassan al-Moussawi, The representative for Star Joseph Company, American, for building and construction announced during his visit to the headquarters of Diwaniya investment commission, their desire to invest in various sectors including the building of hospitals, hotels, entertainment venues. He also said that his company applied to invest in Diwaniya, through a project to establish a modern entertainment city aiming at applying for investment in many other sectors later.
In turn, Eng. Hakim Hameed Hatem, Director General of the Commission said that the procedures in our commission are simplified as considered by investment companies that received investment licenses to work in Diwaniya. It is known that our province suffers shortage in entertainment venues so we have allocated a land for this project and we have no problems in establishing it.

Signing the Memorandum of Understanding today, we would like to increase the depth of the special relationship between our two countries, and we would like to thank the Government and people of Japan for their support to Iraq being the second largest donor to us, where Japan has donated $ 1.5 billion in grants and $ 3.5 billion as loans.
Iraq has welcomed several Japanese companies in the past and we would like to welcome more of them in the future. Today, Iraq launched a new stage of comprehensive development in all sectors, particularly in large infrastructure projects
During the next days a new government will be announced that will work hand in hand with a functioning Parliament which was elected democratically by the Iraqi people
Which will ensure greater stability and improved security situation, which will increase the interest of investors and the private sector in the Iraqi market.
We in the National Investment Commission stand ready to support all parties wishing to invest in Iraq, I would like to thank you again for this wonderful opportunity, and I look forward to welcoming you all to Iraq in the near future